Issue of Shares and Disposal of Warrants

02/09/16
Highlands announces that it has issued an additional 5,000,000 ordinary shares in the Company (the ‘New Ordinary Shares’) pursuant to the exercise of warrants. The warrants exercised are part of those acquired by an institutional investor (the “Institutional Investor”) from Diversion Technologies, LLC (‘Diversion’), as announced on 15 June 2016, and which are exercisable into ordinary shares in Highlands at 25 pence per share. Accordingly, as anticipated following that sale, this exercise is a significant event for Highlands and has resulted in the receipt of further new funds of £1.25 million (taking the total new funds received as part of these transactions to £2.50 million).